Emirati energy company claims Kurdish win

Emirati energy company Dana Gas said it resolved a dispute with its German partners regarding joint-venture operations in the Kurdish north of Iraq. Dana Gas in November said German energy company RWE harmed its interests in the semi-autonomous Kurdish north of Iraq by breaching a confidentiality agreement. The Emirati company announced Monday it reached an “amicable and mutually beneficial” agreement with RWE and closed arbitration. As part of the settlement , RWE’s subsidiary in the Middle East joins the consortium, Pearl Petroleum, as a partner with a 10 percent stake. The agreement with RWE comes one day after an international court of arbitration called on the Kurdistan Regional Government to pay Dana and its consortium partners nearly $2 billion for disputes over […]